The New Home Company Continues Arizona Expansion with Construction Underway on Mosaic at Layton Lakes in Gilbert

Mosaic, planned to open in spring 2020, will feature a total of 222
townhomes and flats averaging more than 1,550 square feet in the popular
lakefront master-planned community

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–As part of its strategic expansion in Arizona, The
New Home Company (NEW HOME) (NYSE: NWHM) announced today that it
recently acquired land and started construction on a community of 222
townhomes and flats, called Mosaic, within the popular lakefront
master-planned community of Layton Lakes in Gilbert.

NEW HOME is a publicly traded homebuilder headquartered in Aliso Viejo,
California, with Arizona operations based in Scottsdale. Its
award-winning Arizona division recently earned several top architectural
honors at the 2019 MAME AZ Awards, including Best Attached Product
Design for Homes over $1 million at ICON Silverleaf in Scottsdale. ICON
Silverleaf is also nominated for Best Multi-Family Housing Community at
the upcoming 2019 Gold Nugget Awards which recognize the homebuilding
industry’s best in architectural design and planning excellence, drawing
entries from throughout the United States and around the world.

Mosaic, planned to open in spring 2020, will be NEW HOME’s second
community in Gilbert, joining Belmont, which opened last summer. Belmont
features 53 spacious single-family residences and is expected to sell
out later this year.

Mosaic will offer a diverse mix of housing types in three distinct
neighborhoods consisting of 87 Row Townhomes, 69 Backyard Townhomes and
66 Flats. With pricing anticipated to start in the high $200,000s, NEW
HOME expects to attract a range of buyers to Mosaic, from empty nesters
to young families and first-time homeowners.

When it opens, Mosaic will feature a gated entrance, swimming pool and
spa, tot lot, barbecue grills and walking paths. Residents will also
have access to Layton Lakes’ jogging track, splash pad, tennis and
basketball courts, baseball fields, parks and highly rated schools.

“Following the tremendous sales success of Belmont, we’re thrilled to
introduce Mosaic as our second community in Gilbert, the fastest growing
city in Metropolitan Phoenix,” said NEW HOME Arizona Division President
Christopher Cady. “Our Mosaic buyers will appreciate our award-winning
approach to creating thoughtfully designed homes ideal for a variety of
lifestyles that are set in a family-friendly environment with a quality
social infrastructure.”

NEW HOME, which launched operations in Arizona in 2016, currently has
four actively selling communities in the greater Phoenix region:
Belmont, ICON Silverleaf in Scottsdale, and the Villas and Residences at
Mountain Shadows in Paradise Valley.

“Although we’ve only had a presence here for a few years, it’s been
extremely gratifying to become one of the most highly regarded
homebuilders in Phoenix, earning some of the highest honors for planning
and design,” said Cady. “We’re committed to this market and look forward
to continued expansion as we complete our current communities and
acquire land for new projects.”

An interest list for Mosaic is now forming at www.LiveMosaicAZ.com.

About The New Home Company

NEW HOME is a publicly traded company listed on the New York Stock
Exchange under the symbol “NWHM.” It is a new generation homebuilder
focused on the design, construction and sale of innovative and
consumer-driven homes in major metropolitan areas within select growth
markets in California and Arizona, including coastal Southern
California, the San Francisco Bay area, metro Sacramento and Phoenix.
NEW HOME is a multi-year recipient of “The Eliant” for Best Overall
Customer Experience in the Eliant Homebuyers’ Choice Awards. NEW
HOME was twice named to the Inc. Magazine Founders 40 list,
recognizing public companies that have maintained a strong
entrepreneurial spirit. For more information about the company or its
current new-home offerings, visit www.NWHM.com.

Contacts

Mike Hoye
Paolucci Salling & Martin Communication Arts | Public
Relations
(310) 346-0845 (mobile) or mhoye@PSMCommArts.com